Exor revises its offer of PartnerRe’ acquisition

Exor launches a new attempt to buy the reinsurer PartnerRe. While the previous offer was of 6.4 billion USD, it has increased to 6.8 billion USD. The value of the share, estimated initially at 130 USD was revised to 137.5 USD.

This counter- proposal presents a premium higher by 10% compared to the one agreed up on between PartnerRe and Axis Capital.

Moreover, Exor stated it had invested 572 million USD in PartnerRe, becoming the largest shareholder in the Bermudian reinsurer with a share of 9.32%.

The new offer of the Agnelli holding will be reviewed by the board of directors of PartnerRe.